INDIANA – Doxo released its 2022 U.S. Bill Pay Market Size & Category Breakout Report. It reveals that Americans spend $3.12 trillion annually across the ten most common household bill categories. This figure makes up nearly one-quarter of all U.S. consumer spending. In this report, statistical analysis of actual household payments was used to size the market across more than 97% of U.S. zip codes.
The report found that the average U.S. household spends $24,032 per year on bills. It also breaks out the household spending market size for each billing category, the average amount paid per household per month, the percentage of households that pay each bill, and average bill pay costs by state.
The data, which doxoINSIGHTS has for Bedford as well as more than 4,000 towns and cities, break down bill payments into ten different categories, including utilities, auto loans, cable bills, and more. This data is particularly interesting as Americans continue to weather economic uncertainty due to the pandemic, inflation, etc.
Average monthly bill in Bedford costs: $1,372 per month. The national average is $2,003. It takes 33 percent of a Bedford household income to pay the bills.
Average Cost of Monthly Bills in Bedford
- Mortgage – $859
- Rent – $707
- Auto Loans – $364
- Utilities – $228
- Health Insurance – $75
- Auto Insurance – $190
- Cable & Internet – $92
- Mobile – $116
- Alarm & Security -$85
- Life Insurance -$83
What Day of the Week Do People in Bedford Pay Their Bills?
What Time During the Day Do People in Bedford Pay Their Bills?
The average U.S. household spends $24,032 per year on the most common bills.
According to the U.S. Census Bureau, the real median household income in the U.S. is $67,521. At the same time, doxo estimates that the average American household spends $24,032 per year on common bills. These figures suggest that more than a third of Americans’ yearly salary is put toward core expenses.
While housing continues to be the highest U.S. household expense by a longshot, the report reveals that the average household is paying more out-of-pocket per month for auto loans, auto insurance, and even mobile phone bills than essential costs like health or life insurance, which are frequently covered by their employer or automatically deducted from paychecks.